证券代码：000679 证券简称：大连友谊 编号：2016-002 大连友谊（集团）股份有限公司投资者关系活动记录表 | --- | --- | --- | |-------------------------|------------------------------|------------------------------------------------------| | | √ | 特定对象调研 □分析师会议 | | | □ | 媒体采访 □业绩说明会 | | 投资者关系 | □ 新闻发布会 □路演活动 | | | 活动类别 | □ 现场参观 | | | | | □其他 （请文字说明其他活动内容） | | | | 招商证券股份有限公司：许荣聪； | | | | 兴业证券股份有限公司：陈绍兴； | | 参与单位名称 及人员姓名 | 东北证券股份有限公司：王平； | | | | | 银河金汇证券资产管理有限公司：郑锦斐； | | | | 苏州天琛投资管理有限公司：杨文剑。 | | 时间 | 2016 年 3 月 21 | 日 9:30-11:30 | | 地点 | | 武汉信用投资集团股份有限公司 ...

Financial Performance - The company's operating revenue for Q3 2022 was ¥32,358,177.62, a decrease of 24.10% compared to the same period last year[5]. - The net profit attributable to shareholders was -¥10,669,894.92, an increase of 14.94% year-on-year, while the net profit after deducting non-recurring gains and losses was -¥10,677,289.74, up 16.09%[5]. - The net profit for the third quarter was -41,684,381.28 CNY, compared to -47,550,803.32 CNY in the same period last year, showing an improvement of approximately 12.5%[21]. - The total operating revenue from sales of goods and services was 402,415,433.43 CNY, down from 488,430,552.95 CNY, representing a decrease of about 17.6% year-over-year[23]. - The company reported a net loss of CNY -238,713,488.65, compared to a loss of CNY -204,069,550.31 in the previous period[18]. - The total comprehensive income for the period was -41,684,381.28 CNY, compared to -47,550,803.32 CNY, marking a year-over-year improvement of approximately 12.5%[22]. Assets and Liabilities - The total assets at the end of the reporting period were ¥983,805,669.03, a decrease of 5.36% from the end of the previous year[5]. - Total assets decreased to CNY 983,805,669.03 from CNY 1,039,486,499.70, reflecting a decline of 5.4%[18]. - Total liabilities decreased slightly to CNY 645,127,642.41 from CNY 659,124,091.80, a reduction of 2.1%[18]. - The equity attributable to shareholders decreased by 8.26% to ¥384,825,992.05 compared to the end of the previous year[5]. - The company's equity attributable to shareholders decreased to CNY 384,825,992.05 from CNY 419,469,930.39, a decline of 8.3%[18]. Cash Flow - Cash flow from operating activities showed a net outflow of -¥45,257,670.85, a decrease of 55.58% year-to-date[5]. - The net cash flow from operating activities was -45,257,670.85 CNY, worsening from -29,089,766.81 CNY in the previous year[24]. - The cash and cash equivalents at the end of the period were 89,910,816.34 CNY, down from 126,609,712.75 CNY, a decrease of about 29.0%[24]. - The company's cash and cash equivalents decreased to CNY 110,584,835.34 from CNY 153,955,544.60, representing a decline of 28.1%[16]. Shareholder Information - The number of ordinary shareholders at the end of the reporting period was 21,050[12]. - The largest shareholder, Wuxin Investment Holdings, held 28.06% of the shares, with 100,000,000 shares frozen[12]. Expenses and Costs - Total operating costs amounted to CNY 154,940,424.85, down 14.4% from CNY 181,145,749.82 year-over-year[20]. - The company incurred research and development expenses of 28,032,345.05 CNY, a decrease from 36,962,430.28 CNY, indicating a reduction of approximately 24.3%[21]. - The company reported a total operating expense of 453,103,947.55 CNY, down from 565,260,221.10 CNY, indicating a reduction of approximately 19.9%[24]. Credit and Impairment - The company reported a significant increase in credit impairment losses by 859.96%, primarily due to increased provisions for bad debts on other receivables[10]. - The company reported a credit impairment loss of -1,633,797.10 CNY, compared to a gain of 214,983.51 CNY in the previous year[21]. - The company experienced a 54.79% decrease in other income, mainly due to a reduction in government subsidies received[10]. Earnings Per Share - The basic and diluted earnings per share were both -¥0.030, reflecting a year-on-year increase of 14.29%[5]. - The basic and diluted earnings per share were both -0.097 CNY, compared to -0.109 CNY in the same quarter last year, reflecting an improvement of about 11%[22]. Litigation - The company is currently involved in ongoing litigation related to acquisition disputes, which may impact future profitability[14].

Financial Performance - The company achieved operating revenue of CNY 81.85 million, a decrease of 10.31% compared to the same period last year[19]. - The net loss attributable to shareholders was CNY 23.97 million, a reduction in loss of 9.38% year-on-year[19]. - Retail business revenue was CNY 81.61 million, down 9.02%, accounting for 99.71% of total revenue[27]. - Real estate sector revenue was CNY 0.24 million, a decrease of 33.41% year-on-year[27]. - The net cash flow from operating activities was CNY -9.26 million, a decline of 654.34% compared to the previous year[19]. - Total assets at the end of the reporting period were CNY 1,018.12 million, a decrease of 2.06% from the end of the previous year[19]. - The net assets attributable to shareholders were CNY 395.50 million, down 5.72% from the previous year[19]. - Basic and diluted earnings per share remained at CNY -0.07, unchanged from the previous year[19]. - The weighted average return on net assets was -5.88%, a decrease of 1.63% compared to the previous year[19]. - The company reported a significant decrease in investment cash flow, with a net outflow of -¥2,275,920.21 compared to a net inflow of ¥60,906,848.64 in the same period last year, marking a 103.74% decline[41]. - The net profit attributable to the parent company was a loss of ¥23,974,043.42, compared to a loss of ¥26,455,308.17 in the previous year, showing an improvement[121]. - The net cash flow from operating activities for the first half of 2022 was -3,090,147.79 RMB, an improvement from -11,068,538.58 RMB in the same period of 2021, indicating a reduction in cash outflow[128]. Retail and Market Trends - In the first half of 2022, the total retail sales of consumer goods in China reached 21,043.2 billion CNY, a year-on-year decrease of 0.7%[28]. - Online retail sales amounted to 6,300.7 billion CNY, growing by 3.1% year-on-year, with physical goods online retail sales at 5,449.3 billion CNY, an increase of 5.6%[28]. - The company’s retail sales in Dalian are gradually recovering but still lag behind pre-pandemic levels[31]. - The company has implemented new retail elements such as live streaming sales and frequent promotional activities to boost sales[31]. - The company’s department store sales in Dalian reported a revenue of 81.61 million CNY, a decrease of 9.02% year-on-year[33]. Real Estate Strategy - The company is currently evaluating the transformation plan for the "Jinshi Valley" project, which was previously on hold due to policy reasons[35]. - The company has adjusted its real estate development strategy to focus on "developing small plots in central urban areas," establishing a competitive edge in the market[39]. - The company plans to seek strategic partnerships with other domestic real estate companies to enhance its resilience against industry risks and pursue sustainable development[39]. Financial Management and Risks - The company faced risks including market volatility and funding pressures due to prolonged project cash return times[58]. - The company plans to enhance budget management and improve capital structure to mitigate liquidity risks[58]. - The company aims to develop a multi-channel sales model to counteract the impact of regional pandemic outbreaks on retail operations[57]. - The company is committed to aligning its strategies with national policies to navigate the uncertainties in the real estate market[58]. Shareholder and Corporate Governance - The company plans not to distribute cash dividends or issue bonus shares for the semi-annual period[62]. - There were no stock incentive plans or employee stock ownership plans implemented during the reporting period[63]. - The company and its subsidiaries are not classified as key pollutant discharge units and faced no administrative penalties for environmental issues during the reporting period[65]. - There were no non-operating fund occupations by controlling shareholders or related parties during the reporting period[70]. - The semi-annual financial report has not been audited[72]. - The company did not engage in any major related party transactions during the reporting period[76]. - The company has no significant guarantees during the reporting period[88]. - The company has not conducted any trust investments during the reporting period[89]. - The company has no major litigation or arbitration matters during the reporting period[74]. - The company is involved in ongoing litigation related to acquisition disputes, with the latest ruling from the Supreme People's Court indicating that the original judgment was flawed and has been sent back for retrial[91]. Financial Position and Assets - As of the report date, the company has 20,615 ordinary shareholders, with the largest shareholder, Wuxin Investment Holdings, holding 28.06% of the shares[97]. - The total number of unrestricted shares remains at 356,400,000, representing 100% of the company's shares[96]. - The company's current assets totaled CNY 283,304,111.23, down from CNY 292,579,921.53 at the start of the year, indicating a decline of approximately 3.9%[111]. - The fixed assets were valued at CNY 202,584,905.69, a decrease from CNY 209,728,461.57, reflecting a decline of about 3.4%[112]. - The company's cash and cash equivalents stood at CNY 146,716,876.13, down from CNY 153,955,544.60, representing a decrease of approximately 4.7%[111]. - The total liabilities increased to CNY 1,270,044,190.59 as of June 30, 2022, compared to CNY 1,258,817,669.78 at the start of the year, marking a rise of 0.2%[117]. - The company's total equity decreased to CNY 268,580,392.37 from CNY 279,888,909.30 at the beginning of the year, reflecting a decline of 4.0%[117]. Accounting and Financial Reporting - The financial report was approved by the board of directors on August 30, 2022[147]. - The financial statements are prepared based on actual transactions and in accordance with the accounting standards issued by the Ministry of Finance[151]. - The company has assessed its ability to continue as a going concern for the next 12 months and found no significant doubts[152]. - The accounting policies and estimates are tailored to the company's operational characteristics, including financial instruments and revenue recognition[153]. - The company’s financial statements reflect its financial position, operating results, and cash flows accurately and completely[154]. - The company recognizes goodwill when the acquisition cost exceeds the fair value of identifiable net assets acquired in a business combination[161]. Future Outlook - The company plans to expand its market presence and invest in new product development to drive future growth[135]. - The management provided a positive outlook for the second half of 2022, expecting continued growth driven by increased consumer demand and strategic initiatives[138]. - Future outlook remains positive, with expectations for continued growth in revenue and profit margins[142].

Financial Performance - The company's operating revenue for Q1 2022 was ¥42,524,084.05, a decrease of 9.14% compared to ¥46,801,301.83 in the same period last year[3] - The net profit attributable to shareholders was -¥9,638,636.77, an improvement of 14.50% from -¥11,273,656.45 year-on-year[3] - Total revenue for the current period was CNY 42,524,084.05, a decrease of 9.7% compared to CNY 46,801,301.83 in the previous period[16] - Net profit for the current period was a loss of CNY 12,072,181.67, an improvement from a loss of CNY 15,803,454.44 in the previous period[17] - The total comprehensive income attributable to the parent company was -9,638,636.77 CNY, compared to -11,273,656.45 CNY in the previous period, showing an improvement of approximately 14.5%[18] Cash Flow - The net cash flow from operating activities decreased by 596.57%, resulting in -¥35,547,612.36, compared to a positive cash flow of ¥7,158,626.79 in the previous year[3] - Cash inflow from operating activities totaled 161,169,790.57 CNY, down 7.8% from 173,600,704.38 CNY in the previous period[21] - Cash outflow from operating activities increased to 196,717,402.93 CNY, compared to 166,442,077.59 CNY in the previous period, representing an increase of approximately 18.2%[21] - The net cash flow from investing activities was -108,196.82 CNY, a decrease from 61,193,752.67 CNY in the previous period[21] - Cash inflow from financing activities was 8,400,000.00 CNY, while cash outflow was 1,206,482.83 CNY, resulting in a net cash flow of 7,193,517.17 CNY[22] - The ending cash and cash equivalents balance was 104,339,233.59 CNY, down from 181,932,657.01 CNY in the previous period, reflecting a decrease of approximately 42.6%[22] Assets and Liabilities - Total assets at the end of the reporting period were ¥1,006,209,887.45, down 3.20% from ¥1,039,486,499.70 at the end of the previous year[3] - Total liabilities decreased to CNY 637,919,661.22 from CNY 659,124,091.80, a reduction of 3.2%[14] - The company's equity attributable to shareholders decreased to CNY 409,831,293.64 from CNY 419,469,930.39, a decline of 2.8%[14] Expenses - The company's management expenses decreased by 58.53% year-on-year, attributed to the reclassification of expenses directly related to operating revenue[5] - The company reported a significant increase in tax expenses, amounting to CNY 183,128,908.11, compared to CNY 186,204,805.52 in the previous period[13] Other Financial Metrics - The weighted average return on net assets was -2.32%, a decline of 0.53% from -1.79% in the same period last year[3] - Basic and diluted earnings per share remained at -0.03 CNY, unchanged from the previous period[18] - The total number of ordinary shareholders at the end of the reporting period was 16,705[8] Receivables and Inventory - Accounts receivable decreased significantly to CNY 67,911.22 from CNY 325,934.05, a reduction of 79.2%[12] - Inventory increased to CNY 35,167,129.52 from CNY 32,984,233.19, an increase of 6.6%[12] Credit and Borrowings - The company reported a 4036.21% increase in credit impairment losses, primarily due to increased provisions for bad debts on other receivables[5] - Short-term borrowings increased by 100% compared to the beginning of the period, indicating a significant rise in bank loans[5] Audit - The company did not conduct an audit for the first quarter report[23]

Corporate Governance - The company plans not to distribute cash dividends, issue bonus shares, or increase capital using reserves[6]. - All directors attended the board meeting to review the annual report[5]. - The company emphasizes the importance of risk awareness regarding forward-looking statements in the annual report[5]. - The company maintained a strict governance structure in compliance with relevant laws and regulations, ensuring effective internal controls and risk management[79]. - The board of directors and supervisory board operate independently, ensuring compliance and oversight of management activities[80]. - The company has established a fully independent financial department and accounting system, ensuring no overlap with the controlling shareholder's financial operations[83]. - There were no reported instances of related party transactions during the reporting period, ensuring transparency and fairness in operations[80]. - The governance structure is aligned with the requirements set by the China Securities Regulatory Commission, with no significant discrepancies noted[82]. - The company has established a clear separation of personnel, assets, and financial responsibilities from the controlling shareholder, ensuring operational independence[83]. - The company has implemented effective investor relations management, facilitating continuous communication with investors through various channels[82]. Financial Performance - The company's operating revenue for 2021 was ¥176,334,372.09, a slight increase of 0.32% compared to ¥175,772,709.74 in 2020[21]. - The net profit attributable to shareholders in 2021 was -¥215,911,693.13, representing a significant decline of 938.05% from ¥25,763,584.19 in 2020[21]. - The net profit after deducting non-recurring gains and losses was -¥217,303,253.38, a decrease of 15.44% compared to -¥188,234,198.87 in 2020[21]. - The net cash flow from operating activities improved by 70.81%, reaching -¥14,078,990.83 in 2021, compared to -¥48,234,565.00 in 2020[21]. - The total assets at the end of 2021 were ¥1,039,486,499.70, a decrease of 22.67% from ¥1,344,177,161.27 at the end of 2020[21]. - The net assets attributable to shareholders decreased by 34.03%, amounting to ¥419,469,930.39 at the end of 2021, down from ¥635,828,426.84 at the end of 2020[21]. - The basic earnings per share for 2021 was -¥0.61, a decline of 971.43% from ¥0.07 in 2020[21]. - The weighted average return on net assets was -40.94% in 2021, a drop of 45.08% from 4.14% in 2020[21]. - The company's revenue after deducting certain income was ¥161,841,795.60 in 2021, compared to ¥174,643,048.78 in 2020[22]. - The company reported a net loss of CNY 204,069,550.31 in 2021, compared to a profit of CNY 12,288,946.14 in 2020[186]. Market and Operational Insights - The company has reported a continuous operating capability uncertainty as the net profit has been negative for the last three accounting years[21]. - The company's retail sales in Dalian increased by 10.52% year-on-year, with total sales revenue reaching CNY 17.29 million[37]. - The overall retail market in China saw a 12.5% growth in 2021, with online retail sales increasing by 14.1%[32]. - The real estate development investment in China grew by 4.4% in 2021, with residential investment rising by 6.4%[33]. - The company has implemented new retail strategies, including live streaming sales, to adapt to market changes and consumer demands[35]. - The company achieved a total revenue of 176.33 million yuan in 2021, representing a year-on-year growth of 0.32%[43]. - The retail segment generated revenue of 172.92 million yuan, accounting for 98.07% of total revenue, with a year-on-year increase of 10.52%[45]. - The real estate segment reported revenue of 1.05 million yuan, a significant decline of 92.70% compared to the previous year[45]. - The company is focusing on the transformation of the "Jinshi Valley" project in Dalian, which has faced regulatory changes requiring project adjustments[40]. - The company plans to seek strategic partnerships with other domestic real estate companies to enhance resilience against industry risks[40]. Risk Management - The company faces risks from recurring pandemics, which could impact retail operations and consumer confidence[74]. - The real estate sector is under significant policy risk, with ongoing government regulations expected to remain stringent[74]. - The company is addressing liquidity risks by ensuring cash flow stability and improving capital structure management[75]. - The competitive landscape in the real estate market is intensifying, necessitating strategic collaborations to mitigate investment risks[75]. Employee and Management Structure - The total number of employees at the end of the reporting period was 451, with 266 in sales, 86 in technical roles, 30 in finance, and 69 in administration[108]. - The total remuneration for directors, supervisors, and senior management during the reporting period amounted to RMB 4.39 million[99]. - The company has focused on enhancing its employee compensation system to align with market standards and improve overall employee performance[109]. - A total of 75 training sessions were conducted in 2021, with 280 participants and a total of 408 hours of training completed[110]. Audit and Compliance - The audit committee reviewed the annual audit process and confirmed the adequacy of the audit evidence obtained by the auditing firm[106]. - The internal control self-assessment report indicates that 100% of the total assets and operating income of the evaluated units are included in the company's consolidated financial statements[116]. - There were no significant defects identified in financial or non-financial reporting, with zero major defects reported[117]. - The internal control audit report received a standard unqualified opinion, confirming effective internal controls over financial reporting[118]. - The company has committed to strict compliance with relevant laws and regulations, ensuring no major issues requiring rectification were found during self-inspection[118]. Shareholder Information - The total number of shares is 356,400,000, with 100% being unrestricted shares[156]. - The largest shareholder, Wuxin Investment Holdings (Shenzhen) Co., Ltd., holds 100,000,000 shares, representing 28.06% of total shares[158]. - The second largest shareholder, Dalian Friendship Group Co., Ltd., holds 11,907,894 shares, accounting for 3.34% of total shares[159]. - The company reported a total of 17,145 shareholders at the end of the reporting period, an increase from 16,705 in the previous month[158]. - The shareholder structure remains stable with no significant changes in the number of shares held by major shareholders[159]. Future Outlook - The company provided a future outlook, projecting a revenue growth of 10% for the next fiscal year, targeting 1.32 billion CNY[89]. - The company is investing 100 million CNY in R&D for new technologies aimed at enhancing customer experience and operational efficiency[91]. - Market expansion plans include entering two new provinces, expected to increase market share by 5%[88]. - The management team emphasized a focus on digital transformation, aiming to increase online sales by 30% in the coming year[90].

Financial Performance - The company's operating revenue for Q3 2021 was ¥42,632,943.31, representing a slight increase of 0.01% compared to the same period last year[2] - The net profit attributable to shareholders was -¥12,543,546.43, a significant decrease of 793.61% year-on-year[2] - The net profit excluding non-recurring gains and losses was -¥12,724,856.85, which is an increase of 4.63% compared to the previous year[2] - The basic and diluted earnings per share were both -¥0.035, reflecting a decrease of 800.00% year-on-year[2] - Net profit for Q3 2021 was a loss of CNY 47,550,803.32, compared to a net profit of CNY 10,251,204.10 in Q3 2020, indicating a significant decline[17] - The company's basic and diluted earnings per share for Q3 2021 were both -0.109, down from 0.08 in the same period last year[17] - The company reported a total comprehensive loss of CNY 47,550,803.32 for Q3 2021, compared to a comprehensive income of CNY 10,251,204.10 in Q3 2020[17] Assets and Liabilities - Total assets at the end of the reporting period were ¥1,250,338,140.76, down 6.98% from the end of the previous year[2] - As of September 30, 2021, the total current assets amount to CNY 280,748,417.79, down from CNY 366,826,499.90 at the end of 2020, representing a decrease of about 23.4%[11] - The company's non-current assets total CNY 969,589,722.97, slightly down from CNY 977,350,661.37, a decrease of about 0.8%[12] - The total liabilities as of September 30, 2021, are CNY 621,250,538.26, down from CNY 667,538,755.45, reflecting a decrease of approximately 6.9%[13] Cash Flow - The company's cash flow from operating activities was -¥29,089,766.81, indicating a decline of 101.50% year-to-date[2] - Cash flow from operating activities showed a net outflow of CNY -29,089,766.81 in Q3 2021, compared to a net inflow of CNY 1,934,420,433.17 in Q3 2020[19] - Cash and cash equivalents at the end of Q3 2021 totaled CNY 126,609,712.75, down from CNY 197,009,127.91 at the end of Q3 2020[21] - The company's cash and cash equivalents decreased to CNY 147,763,731.75 from CNY 169,101,648.93, a decline of approximately 12.6%[11] - The net cash flow from investment activities was CNY 59,413,332.16 in Q3 2021, compared to a net outflow of CNY -422,443,600.24 in Q3 2020[21] Operating Costs and Expenses - The company's operating costs increased by 52.27% compared to the beginning of the year, primarily due to adjustments in accounting standards[6] - Total operating costs for Q3 2021 were CNY 181,145,749.82, an increase from CNY 145,079,046.09 in Q3 2020, representing a growth of approximately 24.9%[16] - Financial expenses increased by 337.96% year-on-year, mainly due to interest expenses related to the disposal of subsidiary equity[6] - The company incurred financial expenses of CNY 21,340,364.66 in Q3 2021, significantly higher than CNY 4,872,720.26 in Q3 2020[16] Shareholder Information - The number of ordinary shareholders at the end of the reporting period was 16,592, with the largest shareholder holding 28.06% of the shares[6] Government Subsidies - The company received government subsidies amounting to ¥181,210.00 during the reporting period, with total non-recurring gains and losses of ¥181,310.42[4] Legal and Regulatory Matters - The company has ongoing litigation related to acquisition disputes, with the case currently under review by the Supreme People's Court[9] - The company is undertaking a project to rectify areas of the Jinshigu Golf Course that overlap with a national scenic area, with potential financial implications yet to be assessed[9] Leasing and Loans - The company has renewed a lease for a property with a total area of 6,767.83 square meters at a rental rate of CNY 2.25 per square meter per day, resulting in an annual rent of CNY 5,558,080.39[8] - The company plans to extend two existing loans totaling CNY 22,000,000 at an interest rate of 8.6% until December 31, 2021[8] Accounting Standards - The company implemented the new leasing standards starting January 1, 2021, without needing to adjust the beginning balance sheet items[22] - All existing lease contracts as a lessee were treated as short-term leases or low-value asset leases, thus no retrospective adjustments were necessary[22] Audit Status - The third quarter report for 2021 was not audited[24]

Financial Performance - The company achieved operating revenue of CNY 91,261,894.59, representing a year-on-year increase of 24.83%[19] - The net profit attributable to shareholders was CNY -26,455,308.17, a decrease of 201.51% compared to the same period last year[19] - The retail sector generated revenue of CNY 89,707,400, with a growth of 26.08%, accounting for 98.30% of total revenue[27] - The real estate sector reported revenue of CNY 361,200, down 49.40% year-on-year[27] - The net cash flow from operating activities was CNY 1,671,192.78, a significant decline of 99.91% compared to the previous year[19] - Total assets at the end of the reporting period were CNY 1,290,474,212.63, a decrease of 4.00% from the end of the previous year[19] - The net assets attributable to shareholders were CNY 609,373,118.67, down 4.16% from the previous year[19] - The basic earnings per share were CNY -0.07, reflecting a 200.00% decrease compared to the same period last year[19] - The company reported a significant decline in cash flow from operating activities, with a net amount of ¥1,671,192.78, down 99.91% from ¥1,951,300,596.24 in the previous year[40] - The total operating revenue for the first half of 2021 was CNY 91,261,894.59, an increase from CNY 73,110,174.95 in the same period of 2020, representing a growth of approximately 24.5%[124] Retail Sector Insights - The retail sales of consumer goods in China reached CNY 37,586 billion in the first half of 2021, representing a year-on-year growth of 12.1%[31] - Online retail sales amounted to CNY 61,133 billion, with a year-on-year increase of 23.2%, and physical goods online retail sales grew by 18.7%[31] - The average rental rate for the company's department stores in Dalian was CNY 2,133.35 per square meter per year, with a revenue increase of 26.08% year-on-year[35] - The company’s retail sales revenue showed a recovery trend, although it remained below pre-pandemic levels[33] - The company’s retail sector continues to enhance marketing strategies and diversify product offerings to boost sales[33] Real Estate Sector Insights - The company plans to focus on the development of the Dalian Jinshigu project and seek strategic partnerships with other domestic real estate companies[30] - The real estate market remains under strict regulatory scrutiny, particularly concerning "school district housing" to prevent price speculation[28] - In the first half of 2021, the central government implemented over 173 regulatory measures in the real estate sector, primarily tightening demand-side policies[28] Cash Flow and Liquidity - Cash and cash equivalents at the end of the reporting period amounted to ¥180,018,294.91, increasing from ¥169,101,648.93, which is a rise of 1.37% in proportion to total assets[49] - The company aims to enhance cash flow by improving inventory turnover and budget management to stabilize liquidity[60] - The company faces liquidity risks due to prolonged project fund recovery times, leading to increased financial pressure[60] Shareholder and Equity Information - The total number of ordinary shareholders at the end of the reporting period was 16,553[103] - The largest shareholder, Wuxin Investment Holdings, holds 28.06% of the shares, totaling 100 million shares, which are currently frozen[103] - The company has not distributed cash dividends or bonus shares for the half-year period[65] - The company has no plans for employee stock ownership or incentive programs during the reporting period[66] Regulatory and Compliance Issues - The company is facing significant policy risks in the real estate sector due to ongoing government regulations aimed at controlling housing prices[59] - The company plans to enhance its policy research and adapt its strategies based on market conditions and government directives[59] Financial Reporting and Accounting Practices - The company’s financial statements are prepared based on the actual transactions and in accordance with the accounting standards issued by the Ministry of Finance[157] - The company has evaluated its ability to continue as a going concern and found no significant doubts regarding its ongoing operations[158] - The company’s financial reports comply with the requirements of accounting standards, reflecting its financial position and operating results accurately[160] Investment and Financing Activities - Investment activities generated a net cash flow of ¥60,906,848.64, a 114.46% increase compared to a net outflow of ¥421,226,130.21 in the previous year[41] - The company has renewed two loans totaling CNY 220 million with an annual interest rate of 8.6%[86] - The company has signed a three-year lease for a property with a total area of 6,767.83 square meters at a rental rate of CNY 2.25 per square meter per day[86] Legal and Litigation Matters - The company is involved in ongoing litigation related to acquisition disputes, with the Supreme People's Court currently reviewing the case[96][97] - The company has not faced any major litigation or arbitration matters during the reporting period[79] Changes in Assets and Liabilities - The company's current assets totaled CNY 313,418,487.19, down from CNY 366,826,499.90 at the end of 2020, indicating a decrease of about 14.6%[117] - Total liabilities decreased to CNY 646,078,970.73 from CNY 667,538,755.45, reflecting a reduction of about 3.2%[118] - The company's non-current liabilities decreased to CNY 21,059,447.84 from CNY 46,303,871.00, a significant decline of approximately 54.5%[118] Miscellaneous - The company has not reported any new product developments or technological advancements in this earnings call[150] - There are no indications of market expansion or mergers and acquisitions in the current financial report[150]

Revenue and Profit - Revenue for Q1 2021 was ¥46,801,301.83, a decrease of 54.92% compared to ¥103,817,339.32 in the same period last year[7] - Net profit attributable to shareholders was -¥11,273,656.45, an improvement of 83.53% from -¥68,467,657.08 year-on-year[7] - Total operating revenue for Q1 2021 was CNY 46,801,301.83, a decrease of 55.1% compared to CNY 103,817,339.32 in the same period last year[39] - The net loss attributable to shareholders of the parent company for Q1 2021 was CNY 11,273,656.45, compared to a net loss of CNY 68,467,657.08 in Q1 2020[41] - The net profit for the period was CNY 80,837.34, compared to CNY 23,431,618.06 in the previous period, indicating a significant decline[45] Cash Flow - Operating cash flow increased by 206.70%, reaching ¥7,158,626.79 compared to -¥6,709,160.87 in the previous year[7] - The net cash flow from operating activities was CNY 7,158,626.79, recovering from a negative cash flow of CNY -6,709,160.87 in the previous period[49] - The company reported a cash inflow from operating activities of CNY 173,600,704.38, compared to CNY 172,307,573.07 in the previous period[49] - The total cash outflow from operating activities was CNY 166,442,077.59, down from CNY 179,016,733.94 in the previous period[49] - The net cash flow from operating activities for the current period is ¥10,115,128.62, a significant increase from ¥2,376,680.75 in the previous period, representing a growth of approximately 324%[51] - Total cash inflow from operating activities reached ¥185,658,120.87, compared to ¥160,374,756.16 in the previous period, indicating an increase of about 15.7%[51] - Cash outflow from operating activities totaled ¥175,542,992.25, up from ¥157,998,075.41, which is an increase of approximately 11.1%[51] Assets and Liabilities - Total assets decreased by 1.26% to ¥1,327,221,846.77 from ¥1,344,177,161.27 at the end of the previous year[7] - Current liabilities totaled approximately 623.75 million yuan as of March 31, 2021, compared to 621.23 million yuan at the end of 2020[33] - Non-current liabilities decreased from approximately 46.30 million yuan to 42.63 million yuan during the same period[33] - The company's total liabilities were CNY 1,289,249,553.36, showing a marginal increase from CNY 1,288,445,044.56 at the end of 2020[37] - Total assets as of March 31, 2021, amounted to CNY 1,726,613,766.94, slightly up from CNY 1,725,728,420.80 at the end of 2020[37] Financial Expenses and Cash Equivalents - Financial expenses decreased by 89.37%, primarily due to a significant reduction in interest-bearing liabilities[14] - The company reported a significant reduction in financial expenses, which dropped to CNY 6,504,706.32 from CNY 61,188,464.77 in the previous year[40] - Cash and cash equivalents increased by 21.40%, mainly due to the recovery of external loans[14] - Cash and cash equivalents at the end of the period totaled CNY 181,932,657.01, up from CNY 26,970,769.43 at the end of the previous period[50] - The total cash and cash equivalents at the end of the period amounted to ¥177,191,047.57, a significant increase from ¥3,635,613.26 in the previous period[53] Shareholder Information - The number of ordinary shareholders at the end of the reporting period was 16,511[10] - The total equity attributable to shareholders of the parent company was CNY 437,364,213.58, a slight increase from CNY 437,283,376.24 at the end of 2020[37] Other Financial Activities - The company provided financial assistance of 60 million yuan to Baichang Group for real estate project development, with an interest rate of 8% per annum[16] - The company has no significant non-operating fund occupation by controlling shareholders or related parties during the reporting period[25] - There were no securities or derivative investments reported during the period[20][21] - The company recorded other income of CNY 188,263.79 during the period, while the previous period had no such income[44] - The company received CNY 61,200,000.00 from other investment-related cash inflows, marking a positive shift from the previous period where there were no such inflows[49] Investment Activities - Investment cash flow net increased by 4423.97%, primarily from the recovery of external loans[15] - The net cash flow from investing activities is ¥61,196,732.67, a recovery from a negative cash flow of ¥1,415,222.75 in the previous period[53] - Cash inflow from investing activities was ¥61,200,000.00, with no inflow recorded in the previous period[53] - Cash outflow from investing activities was minimal at ¥3,267.33, down from ¥1,415,222.75 in the previous period, indicating a reduction in investment spending[53] Leasing and Property - The company plans to continue leasing properties from Friendship Group at a rate of 2.25 yuan per square meter per day, with an annual rent of approximately 5.56 million yuan[18] - The company has not made any adjustments to the beginning balance sheet items as of January 1, 2021, under the new leasing standards[55] Audit Status - The first quarter report has not been audited, indicating that the figures may be subject to change upon final review[56]

Company Overview - The company is listed on the Shenzhen Stock Exchange with the stock code 000679[12] - The company's legal representative is Xiong Qiang[12] - The registered address is No. 1 Qiyi Street, Zhongshan District, Dalian, Liaoning Province, with a postal code of 116001[12] - The company’s website is http://www.sz000679.com[12] - The company’s office is located at B3 District, Xinghai Square, Shahekou District, Dalian, Liaoning Province[12] - The company’s contact for investor relations is Jiang Guangwei, with a phone number of 0411-82691470[13] - The company’s annual report is disclosed through media such as "China Securities Journal" and "Securities Times"[14] Financial Performance - The company has not provided specific financial performance metrics in the available documents[11] - The company's operating revenue for 2020 was ¥175,772,709.74, a decrease of 77.34% compared to ¥775,761,838.76 in 2019[18] - The net profit attributable to shareholders in 2020 was ¥25,763,584.19, representing a 107.90% increase from a loss of ¥326,204,197.91 in 2019[18] - The net cash flow from operating activities was -¥48,234,565.00, a decline of 508.38% compared to -¥7,928,331.41 in 2019[18] - Basic earnings per share for 2020 were ¥0.07, a significant improvement from -¥0.92 in 2019[18] - Total assets at the end of 2020 were ¥1,344,177,161.27, down 70.18% from ¥4,506,943,168.79 at the end of 2019[18] - The net assets attributable to shareholders increased by 4.22% to ¥635,828,426.84 from ¥610,064,842.65 in 2019[18] - The company reported a weighted average return on equity of 4.14% in 2020, recovering from -42.19% in 2019[18] - The revenue after deducting non-operating income was ¥174,643,048.78 in 2020, compared to ¥775,761,838.76 in 2019[19] - The company has indicated uncertainty regarding its ability to continue as a going concern due to negative net profits in recent years[18] Shareholding and Ownership - The company underwent significant changes in its shareholding structure, with Wu Xin Investment Holding becoming the controlling shareholder by holding 28.06% of the shares[16] - The company’s controlling shareholder, Wuxin Investment Holdings, transferred 100 million shares (28.06% of total shares) at a price of 3.60 yuan per share, totaling 360 million yuan[125] - The largest shareholder, Wuxin Investment Holdings (Shenzhen) Co., Ltd., holds 28.06% of shares, totaling 100,000,000 shares, which are currently frozen[140] - The second-largest shareholder, Dalian Friendship Group Co., Ltd., holds 3.34% of shares, totaling 11,907,894 shares[141] Revenue and Sales - The retail segment generated revenue of 156.47 million yuan, down 77.49% year-on-year, with a net profit of -15.96 million yuan, a decline of 467.28%[39] - The company achieved a total retail sales revenue of 352.453 billion yuan in 2020, a year-on-year decrease of 2.3%[43] - Online retail sales reached 117.601 billion yuan, growing by 10.9% year-on-year, with physical goods online retail sales at 97.590 billion yuan, an increase of 14.8%[43] - The company’s department store sales in Dalian reported a revenue of 15.64683 million yuan, a decrease of 77.49% year-on-year[45] Asset Management and Divestitures - The company engaged in significant asset sales in June 2020, transferring 100% equity of three subsidiaries to improve cash flow and reduce debt[30] - The company sold three real estate subsidiaries to optimize asset structure and reduce interest-bearing debt, improving financial conditions[42] - The company transferred 100% equity and debt of subsidiaries, resulting in improved asset quality and a significant reduction in interest-bearing debt and financial expenses[39] - The company aims to reduce its interest-bearing debt scale and financial expenses by divesting underperforming real estate projects, thereby improving its debt repayment capacity and sustainable profitability[75] Cash Flow and Financial Health - Cash and cash equivalents increased by 245.14% compared to the beginning of the period, mainly due to proceeds from equity and debt transfers[39] - The net cash flow from investment activities was CNY 1,443,108,992.30, an increase of 216.15%[62] - The company's cash and cash equivalents increased by 166.36% to CNY 122,620,966.46[61] - The total assets composition showed a significant increase in cash and cash equivalents, rising from 1.09% to 12.58% of total assets, primarily due to the receipt of proceeds from equity and debt transfers[66] Strategic Focus and Market Position - The company plans to focus on the development of the Dalian Jinshigu project and seek strategic cooperation with other domestic real estate companies[42] - The company’s strategic focus shifted towards commercial real estate development in core urban areas, enhancing its competitive advantage[34] - The company plans to focus on "consumer-centric" and "data-driven" strategies in retail, shifting from a product-centric to a customer-oriented operational model[81] - The company is committed to the "housing is for living, not for speculation" policy, which will guide its real estate operations and project development strategies[82] Governance and Compliance - The company has a governance structure that complies with the requirements of the China Securities Regulatory Commission, ensuring effective internal control and risk management[172] - The company has established a performance evaluation system linking executive compensation to overall company performance[185] - The audit opinion was a standard unqualified opinion, confirming the fair presentation of the company's financial status as of December 31, 2020[192] - The company has maintained a stable management team, with key personnel having extensive experience in their respective fields[164] Investor Relations and Communication - The company has implemented effective investor relations activities, including a dedicated investor consultation hotline and regular communication channels[175] - The company has not engaged in any investor communications or interviews during the reporting period[86] - The company actively responded to inquiries from the Shenzhen Stock Exchange regarding the major asset sale and related party transaction report[112] Employee and Training Initiatives - The total number of employees in the company is 467, with 275 in sales, 90 in technical roles, 32 in finance, and 70 in administration[168] - The company conducted 70 training sessions in 2020, with a total of 300 participants and 405 hours of training completed[169] - The company has established a salary management system based on market research, social average wages, and performance indicators[168] Legal and Regulatory Matters - The company faced a lawsuit involving a loan default amounting to 16,850.45 million RMB, but it did not form an estimated liability[101] - The company has not reported any penalties or rectifications during the reporting period[105] - There were no significant related party transactions during the reporting period[107] Future Outlook - The company plans not to distribute cash dividends, issue bonus shares, or increase capital from reserves for the current fiscal year[90] - The company aims to enhance its asset quality and financial status by reducing financial expenses through strategic asset sales and focusing on core urban areas for new real estate projects[82]

Financial Performance - Operating revenue for the reporting period was CNY 42,631,320.78, down 73.90% year-on-year, and CNY 115,741,495.73, down 80.06% year-to-date[7] - Net profit attributable to shareholders increased by 103.00% to CNY 1,808,450.46 for the reporting period, and by 119.63% to CNY 27,870,515.55 year-to-date[7] - Basic earnings per share rose by 102.96% to CNY 0.005 for the reporting period, and by 120.00% to CNY 0.08 year-to-date[7] - The company reported a net profit of CNY 14,395,877.50, recovering from a loss of CNY 13,474,638.05 in the previous year[38] - The net profit for Q3 2020 was a loss of CNY 2,826,020.23, compared to a loss of CNY 65,569,613.55 in the previous year, indicating a significant improvement[45] - The net profit attributable to the parent company was CNY 27,870,515.55, a significant improvement from a net loss of CNY 141,980,936.06 in the same period last year[52] - The company reported a total comprehensive income of CNY 10,251,204.10, compared to a comprehensive loss of CNY 157,211,262.78 in the prior year[53] - The total profit for the period was CNY 10,251,204.10, contrasting with a total loss of CNY -156,874,881.16 in the previous year[52] Asset and Liability Changes - Total assets decreased by 69.87% to CNY 1,357,904,526.22 compared to the end of the previous year[7] - The company's current assets decreased to CNY 378,259,599.39 from CNY 3,508,701,603.28, indicating a reduction of approximately 89.2% year-over-year[35] - The total liabilities decreased to CNY 654,408,151.45 from CNY 3,831,794,221.67, a decline of approximately 82.9%[37] - The total liabilities decreased to CNY 1,188,420,517.18 from CNY 2,581,955,494.41, reflecting a reduction of 54%[44] - The company's equity attributable to shareholders rose to CNY 656,031,581.75 from CNY 610,064,842.65, an increase of about 7.5%[38] - The company's long-term payables decreased by 46.23% compared to the beginning of the period, mainly due to the repayment of finance lease liabilities[16] - The company’s estimated liabilities decreased by 97.53% compared to the beginning of the period, also due to the transfer of subsidiaries[16] Cash Flow Analysis - Cash flow from operating activities showed a net outflow of CNY 16,880,163.07, a decrease of 115.96% compared to the previous year[7] - The net cash flow from operating activities increased by 1499.32% year-on-year, mainly due to the recovery of receivables from the sale of subsidiary equity[17] - The company reported a cash flow from operating activities of CNY -813,432,218.08 for the year-to-date, compared to a positive cash flow of CNY 33,261,461.89 in the previous year[57] - The net cash flow from operating activities for Q3 2020 was CNY 1,934,420,433.17, a significant increase compared to CNY 120,952,808.40 in Q3 2019, reflecting a growth of approximately 1507%[60] - Total cash inflow from operating activities reached CNY 2,454,368,984.93, compared to CNY 814,372,812.43 in the previous year, indicating an increase of about 201%[60] - The total cash inflow from operating activities for the year-to-date was CNY 3,316,343,714.72, compared to CNY 764,032,747.24 in the previous year, marking an increase of approximately 334%[62] Operational Changes and Strategies - The company's operating revenue decreased by 80.06% year-on-year, primarily due to the impact of the pandemic and new revenue recognition standards on retail operations[17] - Operating costs decreased by 86.88% year-on-year, corresponding to the decline in revenue from retail operations[17] - The company has implemented new strategies to enhance operational efficiency and reduce costs amid challenging market conditions[40] - The company reduced its payable employee compensation by 97.63% compared to the beginning of the period, mainly due to the payment of year-end bonuses[16] - The company experienced a significant reduction in sales expenses, which were CNY 20,517,049.50 compared to CNY 37,362,180.09 in the previous period[51] Equity and Investments - Long-term investments decreased to CNY 222,970,000.00 from CNY 691,161,082.44, a decline of approximately 67.7%[40] - The company completed the transfer of 100% equity in subsidiaries Dalian Shengfa, Shenyang Xinglion, and Handan Faxing, with a total transaction value of 1.478 billion yuan[19] - The company reported a 99.48% decrease in accounts receivable due to the transfer of 100% equity in three subsidiaries[15] - Inventory decreased by 99.16% as a result of the same equity transfer[15] - The inventory level significantly dropped to CNY 28,031,069.29 from CNY 3,324,746,021.85, reflecting a decrease of approximately 99.2%[35] Financial Expenses - Financial expenses decreased by 97.06% year-on-year, primarily due to the repayment of loans from financial institutions[17] - The company’s financial expenses for Q3 2020 were CNY 15,804,861.73, a decrease of 72.5% from CNY 57,404,169.61 year-on-year[44] - The company incurred financial expenses of CNY 4,872,720.26, down from CNY 165,599,651.03 in the prior period[52] Shareholder Information - The total number of shareholders at the end of the reporting period was 17,972[11] - The company reported a significant increase in other income of CNY 20,331,894.43 compared to CNY 65,978.38 in the previous year[45] Regulatory and Reporting Notes - The company adopted the new revenue recognition standard starting January 1, 2020, as approved by the board on April 27, 2020[74] - The Q3 report was not audited[74]